Fetch.ai and Conflux Network Partner to Enable Global Commerce Powered by AI

Oct 15, 2020

Partnership paves the way for adoption of AI and cross chain interoperability among blockchain-based systems

TORONTO — OCTOBER 15, 2020 — Fetch.ai, a Cambridge-based artificial intelligence lab building an open-access decentralized machine learning network for smart infrastructure, has announced a partnership with Conflux Network, the only state endorsed public, permissionless blockchain project in China.

This partnership aims to propel the adoption of AI and machine learning in the blockchain sector by enabling the deployment of Fetch.ai’s machine learning technologies to bring seamless, cross-chain interoperability to its smart infrastructure on Conflux Network, which can achieve transaction speeds of up to 6400 transactions per second. Its EVM-compatible platform will ease interoperability across blockchains for any technologies developed on the Fetch.ai platform.

The deployment of Fetch.ai within the Conflux Network will allow Fetch.ai to scale its toolkit and improve user experience as a result of the network’s high-speed capabilities. It will also allow Fetch.ai to integrate their Autonomous Economic Agents (AEAs) with Conflux Network in order to efficiently deploy its AI Lego at scale. Conflux Network community members will be granted access to the Fetch.ai toolkit to integrate machine learning technologies into DApps created within the ecosystem to unlock new value for intelligent use cases ranging from decentralized finance (DeFi), supply chain, IoT, and mobility.

“Through this partnership with Conflux Network, Fetch.ai is one step closer to bringing multi-agent systems and machine learning to all chains,” said Humayun Sheikh, CEO of Fetch.ai. “We will continue to see an increased emphasis on interoperability within the blockchain sector, and look forward to leading that charge.”

Fetch.ai’s infrastructure utilizes machine learning and AI tools to build decentralized digital economies. To guarantee the secure sharing of data and transactions, Fetch.ai’s open-access network provides access to powerful AI tools that help facilitate and collectively coordinate complex machine learning tasks for the modern economy. Through Fetch.ai’s technology, agents can be built, customized, and trained to securely acquire, analyze, and broker the exchange of digital data between constituents within finance, mobility, supply chains, IoT, healthcare, and commodities industries.

“We are very excited to partner with Fetch.ai and bring AI Legos to the Conflux ecosystem. Our partnership will help create a new world of decentralized commerce,” said Eden Dhaliwal, Global Managing Director at Conflux Network. “Fetch.ai’s autonomous agent tooling and multi-party computation helps bring decentralized machine learning to blockchains, which is a critical step towards creating intelligent digital economies. Bringing these AI Legos to Conflux Network will help create a new world of decentralized and intelligent commerce.”

About Fetch.ai

Fetch.ai, a Cambridge-based artificial intelligence lab, is building an open access, tokenized, decentralized machine learning network to enable smart infrastructure built around a decentralized digital economy. Fetch.ai’s network is based around an open-source technology that any user can run to connect to the network, giving access to the power of AI on a world-scale secure dataset, to carry out complex coordination tasks in the modern economy.

About Conflux Network

The only state endorsed public, permissionless blockchain project in China, Conflux Network is an open-source, layer-1 blockchain protocol delivering heightened scalability, security, and extensibility for the next generation of open commerce, decentralized applications, financial services, and Web 3.0. Conflux Network is overseen by a global team of world-class engineers and innovative computer scientists, led by Turing Award recipient Dr. Andrew Yao. Fostering entrepreneurship and innovation, Conflux elevates startups and organizations across industries and continents to generate decentralized marketplaces and digital assets for meaningful business and social impact. Founded in 2018, Conflux has raised $35 million in capital from prominent investors including Sequoia China, Metastable, Baidu Ventures, F2Pool, Huobi, IMO Ventures, and the Shanghai Municipal Science and Technology Commission.